Sunday, May 4, 2014

Crossing My Fingers

     So, on 4/21/14 I mailed out five letters to different creditors. One was to a collection agency trying to get them to validate the debts. The other four were to the original creditors. I used a letter getting them to investigate and send me a notarized letter stating their compliance with the FCBA or remove the negative entries off my credit report. These creditors are all accounts that have been paid off and closed for at least a year, but have some 30 and 60 days late payments on them.

     This is where the waiting game takes a toll. You see, Sheree and I want to buy the home I'm living in from my mother-in-law. The offer to sell the house to us has been on the table for about a year now and she is starting to question whether we really want to buy the house or not. Well, simply put, Mom, we do. My credit score is holding us back, though, and unless I find a way to increase my score quickly we won't be able to do it in the time frame that you want.

     I feel that I have done almost everything right when it comes to repairing my credit. I have disputed items and got them removed. I have been responsible with the credit cards I have (never late on any of them), I have rehabilitated my student loans. I would call the past year a great success in the credit repair world. But my score is still not quite there to get me over the hump and get us approved for that needed home loan.

     Right now I believe I am at least 60 days out from getting the items disputed above off my credit. The reason I say that is my defensive pessimism kicking in. Let's say I don't hear back from these creditors in 30 days. I check my credit report and the accounts still have the negative information on them. I must then re dispute the items with the credit bureaus sending them the letters and the return receipts as proof that the companies aren't following the law and wait another 30 days for a response. Best case scenario is that the credit bureaus remove the negative information like they are supposed to and my score finally rises above that minimum credit score plateau that is required to qualify for a mortgage.

     You never know. These creditors could do what they are supposed to and delete the information from my credit reports without any hassle what so ever. I am not banking on that to happen, though. I need to make sure I have a backup plan. And then a backup plan for the back up plan. Needless to say, my nerves won't stop until I see the desired results.

     So, I have my fingers crossed. Hoping and praying that everything goes smoothly and that there won't be too much back and forth involved with these creditors.

And the Saga Continues...